Green Thumb Industries (OTCMKTS:GTBIF) Shares Gap Up – Should You Buy?

Green Thumb Industries Inc. (OTCMKTS:GTBIF)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $8.08, but opened at $8.40. Green Thumb Industries shares last traded at $7.90, with a volume of 59,258 shares.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Canaccord Genuity Group upgraded shares of Green Thumb Industries to a “strong-buy” rating in a research note on Thursday, October 9th. Zacks Research downgraded shares of Green Thumb Industries from a “hold” rating to a “strong sell” rating in a report on Friday, October 10th. Finally, Benchmark reissued a “buy” rating on shares of Green Thumb Industries in a report on Monday, August 11th. Two equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Green Thumb Industries currently has a consensus rating of “Buy”.

Green Thumb Industries Price Performance

The stock’s fifty day moving average is $8.22 and its 200-day moving average is $6.52. The stock has a market capitalization of $1.62 billion, a PE ratio of 71.10 and a beta of 1.20.

Green Thumb Industries (OTCMKTS:GTBIF) last announced its quarterly earnings results on Wednesday, August 6th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.05). The firm had revenue of $293.26 million for the quarter, compared to analysts’ expectations of $280.66 million. Green Thumb Industries had a return on equity of 1.62% and a net margin of 2.51%. On average, analysts forecast that Green Thumb Industries Inc. will post 0.32 EPS for the current year.

About Green Thumb Industries

Green Thumb Industries Inc manufactures, distributes, markets, and sells of cannabis products for medical and adult-use in the United States. It operates through two segments, Retail and Consumer Packaged Goods. The company offers cannabis flower; processed and packaged products, including pre-rolls, concentrates, vapes, capsules, tinctures, edibles, topicals, and other cannabis-related products under the &Shine, Beboe, Dogwalkers, Doctor Solomon's, Good Green, incredibles, and RHYTHM brands.